South Korea’sFinancial Intelligence Unit has ordered access restrictions on 27 websitesoperated by unregistered overseas cryptocurrency exchanges, including KuCoin,MEXC, Phemex, BingX and BitMart.London's trading industry is coming home!The move followsprevious action against offshore exchanges. In August 2022, the FIUsought to block access to 16 platforms, including KuCoin and MEXC, overalleged failures to meet local requirements. In November 2025,authorities outlined furthermeasures against high-risk offshore exchanges as part of a wider anti-moneylaundering overhaul, including plans to extend transaction reportingrequirements to transfers below 1 million won.South Korea Targets Crypto Websites andAppsThe country’scommunications review body approved the latest restrictions following reviewson October 6 and 7. The measures extend enforcement beyond mobile applicationsto websites. The FIU warned that users could face difficulties accessing fundsor making withdrawals.Authorities assesswhether exchanges operate locally based on factors including Korean-languagewebsites, marketing targeting South Korean users and support for payments inwon.The websiterestrictions follow earlier action against exchange applications. In March2025, Google Play restricted 17 unregistered platforms, including KuCoin andMEXC, after the FIU sought limits on new installations and updates.JUST IN: South Korea blocks access to KuCoin, MEXC and BingX websites among 27 platforms.• Blocked: Phemex, Poloniex, BTCC, and Bitmart.• Prior bans already removed their mobile apps. https://t.co/AJSVqR6M0r— Bitcoin Archive (@BitcoinArchive) October 13, 2026Unregistered Crypto Exchanges FacePrison, FinesThe FIU plans to seekwebsite blocks after detecting unregistered activity, subject to approval fromthe communications review body. Authorities do not need to wait for a courtruling or confirmed user losses. They also intend to target replacement websitesif blocked exchanges resume operations under new addresses.Operating without registration can resultin up to five years’ imprisonment or a fine of up to 50 million won, worthapproximately $37,000.This article was written by Tareq Sikder at www.financemagnates.com.